Oklahoma Guardianship: Guardian Investment Powers Expand

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By statute in Oklahoma, money belonging to the estate of a minor and incapacitated or partially incapacitated person can only be invested by a guardian in the following assets:

• Real estate and certain first mortgages on real property

• US bonds and other debts guaranteed by the US government

• State bonds

• Municipal bonds

• Certain annuities: Bank accounts of in-state savings and loan associations and credit unions and all types of interest-bearing time deposits/certificates of deposits in banks, savings and loans and credit unions in an amount not to exceed the amount insured by the US government.

Effective November 1, 2017, a guardian will have expanded options available to invest money on behalf of the person under guardianship, if the following requirements are met:

The guardian has contracted with a person who is a registered investment advisor under the Oklahoma Uniform Securities Act of 2004 or a Certified Financial Planner™ credentialed by the Certified Financial Planner Board of Standards and

the court authorizes such investments.

If you are a guardian over the estate of a minor or an adult and desire to expand the investment options in your capacity as a guardian, please call 405-443-5100, 405-943-6650 ext. 324 or fill out the form on the contact page, for legal assistance in how to obtain court authorization and approval for such investments. Kevin has over 30 years of experience in guardianships of minors and adults.